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cost of goods sold formula

  1. #1
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    Join Date
    05-04-2010
    Location
    Ohio
    MS-Off Ver
    Excel 2007
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    1

    cost of goods sold formula

    I am having trouble with a formula that would take the inventory that is left and subtract what is needed from the last purchases, then the next-to-last purchases for first-in-first-out or takes from the first purchase, then second purchase for last-in-first-out.

    = IF((C15-C11)>0,((C10-(C15-C11))*B10),(C10*B10))

    It works for that, but using goal seek to make the net income 0 from last-in-first-out on my attached sheet makes a negative number.
    I need help finding a formula that will subtract from 5, then 4, then 3 for FIFO or 1, then 2, then 3 for LIFO and I am completely clueless.
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